Arizona posted the nation’s second highest foreclosure rate for the second month in a row. One in every 169 Arizona properties received a foreclosure notice during the month — more than twice the national average.
One in every 174 Florida properties received a foreclosure notice in May, the nation’s third highest foreclosure rate, and one in every 186 California properties received a foreclosure notice in May, the fourth highest state foreclosure rate.
Foreclosure activity in Michigan increased nearly 6 percent from the previous month and was up 46 percent from May 2009, helping the state post the nation’s fifth highest foreclosure rate — one in every 223 Michigan properties received a foreclosure filing in May.
Other states with foreclosure rates ranking among the top 10 in May were Georgia, Idaho, Illinois, Utah and Maryland.
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